Port-Au-Prince , Haiti -LRB- CNN -RRB- -- Haiti 's economy is getting a boost thanks to a venture with one of Korea 's largest companies that promises to bring 20,000 garment industry jobs to a new industrial park in the north of the country .

Former U.S. President Bill Clinton and Haitian Prime Minister Jean-Max Bellerive were joined by members of the Interim Haitian Recovery Commission , the Inter-American Development Bank , Haitian business leaders and the chairman of Sae-A Trading Co. Ltd. at the Haiti Apparel Center in Port-au-Prince as they signed an agreement to build the North Industrial Park . It 's part of an effort to rebuild the Haitian economy that began even before the earthquake struck one year ago .

`` This will inspire people all over Latin America , the Caribbean , the United States , Canada , Europe and Asia who have thought seriously about investing in Haiti and not come through , '' said Clinton . `` What we need is a commitment to be competitive in getting investment and putting people to work , and then we need to build the institutions that will allow the people to flower . That is our commitment . ''

Smiling , Bellerive said that looking back over the past year , `` This is the best day of my life today . ''

The project is expected to generate $ 500 million in wages and benefits over 10 years and result in Haiti 's first textile mill , according to its backers . Investment in the industrial park will also include the construction of at least 5,000 homes . The United States will oversee the construction of a power grid that will provide electricity to the park and the surrounding area .

The garment industry had been the prime source of Haitian exports before the earthquake and it remains so today . About 28,000 people currently work in Haiti 's garment sector , manufacturing products for Gap , JCPenney , Wal-Mart , New Balance and other well-known brands .

Georges Sassine owns a garment plant in Port-au-Prince that employs 530 people . He believes the garment industry holds the key to growing Haiti 's economy and making the country self-sufficient .

`` Today , this industry represents over 50 % of our earned foreign currency earnings . It also represents over 50 % of the total commercial exports of Haiti , '' he said .

Sassine did n't have a problem retaining buyers after the earthquake . `` We shipped our first container 10 days after the quake . We were ready to do business . ''

At the time , he had to ship his goods over land to the Dominican Republic before delivering them to buyers . Today , he is able to ship goods from a reopened port in the capital , Port-au-Prince .

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The project began even before the January 12 , 2010 , earthquake in Haiti

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Clinton says it will inspire more investment in Haiti

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The plans include a textile mill and 5,000 homes